CFMA: Talent Pipelining

Contractors will face continually worsening talent shortages through 2030.

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Those that want to continue sustainable growth must manage every aspect of their talent management processes with the same rigor they would manage a fast-track project with $100K per day in liquidated damages.

The Construction Talent War - Talent Pipelining.

On November 15th, Katie McConnell and David Brown kicked-off the first of a three-part series focused on talent.   

  1. Diagnosing the Biggest Talent Bottlenecks for CFMA Sacramento Members
  1. Fixing Your Biggest Talent Bottlenecks
  1. Building Benefit Packages and Perks Beyond Compensation for a Competitive Advantage 

A few interesting takeaways from the first session were:

  • When asked what their hiring challenges were, nearly 100% of the audience cited external market factors, which included the shortage of talent. To begin solving the problem, we must first start looking inwardly at the areas they can control and, more specifically, those that matter
  • Of the 83% of people who stated their challenge was not enough qualified talent, 50% of those also rated their Talent Pipelining process as effective (an ‘A’ or ‘B’). This is a little bit like stating your sales process is effective but not achieving the sales you want.  

The next step in solving a problem is to recognize that we may be looking at our internal processes and capabilities with more rose-colored glasses than we think. We actually may not even know what we don’t know. 




Cash Flow Metrics and The Continuous Improvement Process
Contractors can focus on 3 major metrics to continuously improve cash flow, truly making a “game” out of it.
The Leadership Vibrancy Curve
Leaders must navigate (1) the stages of contractor growth, (2) the phases of management team development, and (3) the arc of their own career and life. Maintaining the right levels of leadership vibrancy leads to sustainable scaling and succession.
Prioritized Development and Improvements
Identifying all the opportunities for development of talent and improvement of the operation for a contractor is overwhelming at best. You can't "punch list" a business like you can a project. Prioritization and sequencing are crucial for success.